By Devika Patel
Knoxville, Tenn., Jan. 9 - Radar Acquisitions Corp. intends to complete a non-brokered private placement of units for up to C$3 million.
The company plans to sell up to 10,714,285 units of one common share and one half-share warrant at C$0.28 per unit. Each whole warrant will be exercisable at C$0.45 for two years.
The company may pay a 7% finder's fee and issue a finder's option to buy up to 8% of the number of units sold. The finder's option is exercisable into units for two years.
Proceeds will be used for advancing the Radar/New Energy USA, LLC, joint venture, continued lease maintenance and development of the company's Buick Coal Project, a reservation for working capital and for general operating purposes.
Radar is a natural resource development company based in Calgary, Alta.
Issuer: | Radar Acquisitions Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$3 million
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Units: | 10,714,285
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Price: | C$0.28
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.45
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Agent: | Non-brokered
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Fees: | 7%, option for 8%
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Pricing date: | Jan. 9
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Stock symbol: | TSX Venture: RAC
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Stock price: | C$0.30 at close Jan. 8
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